Blockchain Tech Breaks Glass Ceiling in India as it Begins to Tackle Property Tax Issues

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Blockchain-based solutions are slowly but surely getting their time in the limelight with various mainstream organizations realizing its potential to streamline processes.

Just recently, the Thane Municipal Corporation [TMC] in the state of Maharashtra revealed that they will be using blockchain technology for property tax assessments. The general populous has always witnessed land assessments and surveys conducted manually. The decision to integrate such a nascent technology has certainly turned heads within the public sector and the TMC does not plan to stop just yet.

The TMC is in the throes of building the blockchain-based solution in partnership with a Hyderabad based company called Veridoc Global India, The main aim will be to create a fast and easy digital portal for the citizens by integrating blockchain technology to provide a single functional access point.

Sameer Unhale, the Chief Executive Officer [CEO] of Thane Smartcity and Additional Municipal Commissioner, TMC had said:

“Government data sometimes sits in silos and this (blockchain solution) can help unify that and ease the administrative overhead as well as reduce processing time for citizen requests and verification time for other officials. The government can move from problem-solving mode to nation-building mode.”

A country as large and diverse as India has always faced problems when it comes to the tabulation of citizen data. This has not been helped by the burgeoning population in the country, currently hovering near the 1.4 billion mark. With the blockchain-based solution, data stored will be authorized by an external agency. This will then be cross-verified through a QR code which will greenlight the original document required by the individual or the department.

Although a specific date has not been set for the launch, officials close to the project were confident that it will occur in the next two months. The entire transition between traditional processes and the latest method is carried out by the ‘one scan’ implementation of the proposed QR system.

Blockchain solutions for property tax issues will not be the last avenue for the new and exciting technology as several other sectors have expressed their interest too. Sameer Unhale further added that once the pilot project completes all its deliverables, the technology can be expanded to handle documents like permission grants, birth certificates, etc.

The aforementioned solutions have taken flight because of the initiatives taken by the country’s Ministry of Housing and Urban Affairs. The governmental body has also associated with Startup India, InvestIndia and AGNIi to make the dream a reality.

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